Key Highlights:
- In terms of value, the global sodium cocoyl isethionate marketwas stood around US$ 140.0 Mn in 2018 and is anticipated to expand at a CAGR of more than 5% from 2019 to 2027
- Based on type, needles/flakes was major product type accounted for more than 30%of the total sodium cocoyl isethionate in terms of volume and value in 2018. This can be ascribed to the extensive usage of needles/flakes type of sodium cocoyl isethionate in soaps and cleansers. The segment is expected to maintain its dominance during the forecast period 2019 to 2027
- In terms of application, skin care is a prominent segment of the sodium cocoyl isethionate market. It accounted for more than 50%in 2018. This can be attributed to the constantly expanding personal care industry in the region.
- Based on region, North America held major share in2018 and is expected to grow at significant rate of more than 5% compared to other region during forecast period 2019 to
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Challenges in Formulation of Sodium Cocoyl Isethionate and Limited Esthetic Appeal May Hamper Overall Demand
- Production of sodium cocoyl isethionate needs to be carried out in specially sealed plants. This increases the manufacturing cost. Sulfate-free products such as sodium cocoyl isethionate are costlier than their sulfate-based counterparts.
- Complexities in processing and high manufacturing costs are anticipated to hamper the sodium cocoyl isethionate market during the forecast period. Furthermore, liquid personal care products need to be viscous and clear. This is difficult to achieve with sodium cocoyl isethionate, as it provides an opaque appearance to products. This is also expected to affect the esthetic appeal of sodium cocoyl isethionate.
North America Dominated Global Sodium Cocoyl Isethionate Market
- In terms of region, the global sodium cocoyl isethionate market has been segmented into North America, Europe, Asia Pacific, Middle East Africa, and Latin America. North America accounted for more than30% of the global sodium cocoyl isethionate market. It is likely to remain dominant region during the forecast period 2019 to 2027. The region is a significant producer as well as consumer of sodium cocoyl isethionate.
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- The sodium cocoyl isethionate market in North America is driven by establishment of new RD facilities and production sites, formation of joint ventures, and acquisitions in the anionic surfactant industry in the region. Europe and Asia Pacific are also key consumers of sodium cocoyl isethionate.
- Latin America and Middle East Africa are relatively smaller regions of the global sodium cocoyl isethionate market. However, the market in these regions is anticipated to expand at a moderate pace during the forecast period due to the significant expansion in the personal care cosmetics industry owing to macro-factors such as rise in disposable income of consumers.
Global Sodium Cocoyl Isethionate Market -Key Developments
BASF SE divested its oleochemical surfactants business in Mexico to Stepan Company, and the transaction was completed in the first quarter of 2018. The business includes the oleochemical surfactants product portfolio, associated intellectual property, and manufacturing sites at Ecatepec, Mexico. The move is expected to help the company focus on strategic aspects of its portfolio of home care, personal care, and industrial solutions under its care chemicals sub-segment.
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High Degree of Competition among Market Players
High degree of competition exists among players operating in the global sodium cocoyl isethionate market. The market is dominated by large players and is moderately consolidated. Key players account for large share of the market. Prominent players profiled in the report are Innospec Inc., BASF SE, Clariant International Ltd., Galaxy Surfactants Ltd., Akzo Nobel N.V., JEEN International Corporation, KIYU New Material Co. Ltd., Taiwan NJC Corporation, Henan Surface Chemical Industry Co. Ltd. and Huanggang Yongan Pharmaceutical Co. Ltd.
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